Trade Recommendation: Stellar

Trade Recommendation: Stellar

This is a long term trade. The price reached the resistance zone. We can see an attempt to break this zone and move higher. On the 4H chart there is a flag chart pattern which tells us about continuation of the upward movement. Based on the daily chart MACD and DMI support upward movement too. Also ADX line shows that bulls become stronger. We must be ready to join possible upward movement based on the breakout signal. Pending orders for buy should be placed above the local high at 0.025000 level. Stop orders can be placed below the support zone at 0.009000 level. Profit targets are 0.050000 and 0.070000 levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Trade Recommendation: Syscoin

The price bounced from the support zone formed by the uptrend line and SMA50. MACD and DMI support upward movement. If the price breaks the resistance level and the previous swing high, we’ll get a signal confirming that the market is going to move higher. Pending orders for buy can be placed at 0.00002550 level with stop orders at 0.00002150 level. Profit targets are 0.00003000 and 0.00003800 resistance levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit. Market: SYSBTCBuy: 0.00002550Stop: 0.00002150Profit Targets: 0.00003000 and 0.00003800

Trade Recommendation: Ride the Next Rally of Bitcoin

The profit taking period that saw the Bitcoin market fall from 19,697 to a low of 13,501 in a matter of a few days is almost up. The market appears to have generated a new higher low and will use that level to make its next move up.

Technical analysis reveals a large reversal pattern in the hourly chart that could signal the end of the correction. In addition, volume has been steadily decreasing. On Coinbase, volume spiked by as much as three times its average value in the hourly chart during the height of selling. In the last seven hours, however, volume has been way below its average indicating that bears have lot ammunition. More importantly, RSI in the hourly chart is far from overbought territory. This gives the market a lot of room to breach resistance at 18,000.

The strategy is to buy the market when it goes above 18,000. With signs of selling exhaustion, bears may not put up much of a fight the next time the pair breaches 18,000 on Coinbase. Also, the market has no stiff resistance above 18,000 so it has a clear path to our target of 22,500.

Trade Recommendation: ETC/BTC Pair Bottoming Out

The ETC/BTC market has been in a downtrend after it generated a high of 0.00931529 in June and failed to hold support at 0.006 on Poloniex. Bears repelled any meaningful rally and sent the market to as low as 0.00129881. Fortunately for the bulls, it appears that the pair may have found its bottom.

Technical analysis shows signs of selling exhaustion. First, ETC/BTC went into extreme oversold territory when the price reached 0.00129881. Second, and more importantly, the market revisited that level recently after it corrected from its move above 0.003. When the pair tested support, 0.00129881 was held even though the volume was twice its daily average on Poloniex. These indicators suggest that the pair has bottomed out.

The strategy is to buy between 0.00129881 and 0.002. Take note: the market is still in a downtrend, but there’s an opportunity to generate profits by trading the range. Sell when the market touches 0.0032.